The Europe medical polyethylene market size is expected to reach USD 624.27 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.9% from 2022 to 2030. Increasing demand from the medical industry is anticipated to fuel the demand for medical-grade polyethylene. Polyethylene is widely used in the medical industry as it provides a low coefficient of friction, excellent chemical resistance, and good impact resistance. It caters to applications including medical implants, medical containers, and drug testing equipment.
Europe Medical Polyethylene Market Report Highlights
- The medical tubing application segment accounted for the largest revenue share of over 20.0% in 2021 and is further expected to witness prominent growth over the forecast period
- In 2021, the U.K. led the European market and accounted for a revenue share of more than 25.0%. Changing medical needs in the U.K., coupled with the increased spending capacities of consumers, are expected to drive the demand for polyethylene in the country over the forecast period. Growing demand for lightweight, cost-effective, and efficient materials for the manufacturing of medical applications is expected to positively impact the market growth over the coming years
- Major players are continuously working on expanding manufacturing capabilities with the rise in demand from the medical industry. In March 2021, Celanese Corporation planned to build a new ultra-high-molecular-weight polyethylene (UHMWPE) facility in Europe. This facility was expected to support growth in its high-value GUR engineered materials portfolio. The expansion is expected to begin in 2024 with an annual production capacity of approximately 34,000 metric tons/year
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The presence of moderate key polyethylene manufacturers is anticipated to create significant demand for medical-grade polyethylene. Furthermore, increasing demand from the medical industry is anticipated to boost the demand for medical-grade polyethylene. In addition, due to the excellent properties of polyethylene, it is ideal for use in medical products and also caters to various industries including automotive, agriculture, medical, and infrastructure.
Ethylene (C2H4) is the raw material required for manufacturing polyethylene. Advantages of using polyethylene include enhanced protection, high adaptability, lightweight, economic, durability, excellent rigidity, superior flexibility, and easy recyclability. The medical end-use industry has witnessed high consumption of HDPE and LDPE owing to their high melting point, high density, good resistance to alcohol, dilute acids and alkalis, low-cost polymer with good processability, excellent electrical insulation, very low water absorption, good impact strength, and FDA compliance.
Europe Medical Polyethylene Market By Demographics
The U.K. led the European market and accounted for a revenue share of more than 25.0%. In the U.K., medical tubing along with disposables held a considerable share in 2021, in terms of both volume and revenue. The medical device industry in Spain has witnessed growth on account of the burgeoning aging population and increasing life expectancy. This has driven medical application manufacturers to set up manufacturing facilities in the country. Portugal is an important market for medical applications, and a considerable portion of the market is dominated by medical device imports from the U.S. According to the International Trade Administration
Industry Share Analysis By Major Companies
Major players are continuously working on expanding manufacturing capabilities with the rise in demand from the medical industry. The rising population, the impact of the COVID-19 pandemic, improving living standards, and rising disposable income are factors contributing to the growth of the medical industry in the European region. The European market has been characterized by the presence of key players, along with the presence of a few medium and small regional players. Some prominent players in the Europe medical polyethylene market include:
- Celanese Corporation
- SABIC
- Dow Inc.
- Tekni-Plex Inc.
- Exxon Mobil Corporation
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Europe Medical Polyethylene Market Segmentation
Grand View Research has segmented the Europe medical polyethylene market based on application and country:
- Europe Medical Polyethylene Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 – 2030)
- Europe Medical Polyethylene Country Outlook (Volume, Kilotons; Revenue, USD Million, 2019 – 2030)
- List of Key Players in Europe Medical Polyethylene Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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